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Money, Money, Money!

Wednesday, April 30, 2008

As a wife and a mother, I am very conscious how the finances in the house is managed. I desire the idea that my husband trusts me with money matters. I also like the idea that he leaves decision making to me when it comes to the family's finances.
However, there is a pressure on me, regarding how I handle every single penny that comes in or out of the household . Truly, what I decide on or do with the family's coffer is highly dependent on me. More than just being a finance officer, I am the only person in the house who decides on our budget.

Presently, I have to rely on simple arithmetic regarding our domestic finances: what goes out should not be more compared to what goes in. If it will always be as simple as that, I know I will not go berserk with our family's budget. However, there are times that events or situations go beyond my control. When there are sudden expenses that require immediate release of money right away, that puts me in a difficult situation. I have to make sure that what will be left will be enough for the family.

I have to be on guard that I manage the family's money well. A friend of mine was not able to manage family's finances. Credit card bills piled up due to impulse buying. She had to avail of debt consolidation loan to clear up everything. Good for her she was able to and is now back on track.